The launch of Apple’s first-generation iPhone marked a turning point in the smartphone industry. Back then smartphones were business tools, and those of us who followed them did so as a hobby, and not because even this medium was a big industry as well. Smartphones back then barely sold in the millions, and one device changed it all.

According to Forbes, Apple today should be celebrating it’s 500 millionth iPhone sold, which is a huge milestone if you consider that when Apple launched the iPhone 4 in 2010, Steve Jobs was publicly celebrating that Apple had sold 100 million iPhones in four years. To quadruple that number in just three years says a lot, not just about how much the iPhone sells these days, but of how the industry has grown in that timeframe. The report also states that:

“The consensus would have placed the milestone sale around March 8 given that entering the quarter Apple had sold 472 million iPhones. So even if it proves a bit high as it did last quarter, we’ve crossed the point where it’s safe to assume that Apple has sold 500 million smartphones in less than 7 years. And the most recent 100 million took somewhere between 2-6 weeks less than the previous 100 million did.”

With rumors of the next-generation iPhones being more of what consumers are demanding lately, it’s clear that this is just one of many milestones to come. Let’s hope Apple can do the same for other industries as well, like say, wearables.